Ryanair reports 25% profits rise

Ryanair has reported a 25% increase in first-quarter net profit.

Ryanair has reported a 25% increase in first-quarter net profit.

The airline said its profit for the financial year ending next March would be at the top end of its guidance of €940m to €970m.

It is attributing the rise to better-than-anticipated revenue from ticket prices during the key summer period.

Ryanair has now raised its full-year passenger target, saying it will likely transport 103 million passengers in the current financial year, up from 100 million previously forecast.

Ryanair boss Michael O'Leary said the airline "continued to be inundated with growth offers from primary and secondary airports, whose incumbent carriers are cutting capacity and traffic".

The airline will open itssixth German base, in Berlin, in September.

O'Leary also said the airline had closed its two Danish bases in Copenhagen and Billund "in the best interests of our customers and people" following threats by the Danish Unions "to get their members (competitor airline employees) to blockade/disrupt our flights".

He said: "By moving the aircraft from Copenhagen and Billund to airports outside Denmark the unions have no legal basis for imposing these threatened disruptions, which allows us to continue to grow strongly in Copenhagen without union interference."

Initiatives on the way this year include a new personalised web site in October, new aircraft interiors, new crew uniforms and new bases.

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